Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Ford to delay all-electric SUV to focus on offering hybrid vehicles across its lineup by 2030

by April 5, 2024
April 5, 2024
Ford to delay all-electric SUV to focus on offering hybrid vehicles across its lineup by 2030

Ford Motor is delaying production of a new all-electric three row SUV, as it shifts to offer hybrid options across its entire North American lineup by 2030.

The Detroit automaker on Thursday said it will continue to invest in EVs, but it is postponing production of the large SUV at a plant in Canada from 2025 to 2027 to allow for the market to mature more.

The shift in EV plans is the latest for Ford and the entire automotive industry as adoption has been slower than many expected and production costs remain high.

Ford last year said it would delay or cancel $12 billion in planned spending on new EVs due to the shifting market conditions as well as challenges to profitably building and selling the vehicles.

“As the No. 2 EV brand in the U.S. for the past two years, we are committed to scaling a profitable EV business, using capital wisely and bringing to market the right gas, hybrid and fully electric vehicles at the right time,” said Jim Farley, Ford president and CEO. “Our breakthrough, next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences and a multitude of potential services.”

In the first quarter of 2024, Ford’s electric vehicle sales increased by 86% from subdued levels a year earlier. Hybrid sales for the automaker rose 42% year over year, while sales of Ford’s traditional vehicles with internal combustion engines were up 2.6%.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Rights Issue Prospectus
next post
What Was the Highest Price for Uranium? (Updated 2024)

Related Posts

Fed chair Jerome Powell: No sign of stagflation...

May 2, 2024

Consumers are starting to feel better about the...

July 15, 2023

Procter & Gamble to cut 7,000 jobs as...

June 10, 2025

Online retailer Zulily is shutting down

December 29, 2023

Smucker agrees to buy Twinkie maker Hostess Brands...

September 13, 2023

Joann to shutter all 800 fabric stores after...

February 26, 2025

IRS stops unannounced in-person visits, citing safety concerns...

July 25, 2023

Lordstown Motors files for bankruptcy, sues Foxconn

June 29, 2023

Holiday travelers can expect cheaper flights, packed hotels...

November 20, 2023

OpenAI in talks to pay about $3 billion...

April 17, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Q2 2025 Interim Financial Statements

    • Horn Island Mining Lease Application Registered

    • Gold Majors Ride Price Surge to Strong Q2 Earnings

    • 1911 Gold Corporation Engages Suzette Ramcharan for Investor Relations Services

    • Blue Sky Uranium Closes 3rd and Final Tranche of Non-Brokered Private Placement

    Categories

    • Business (1,332)
    • Investing (2,780)
    • Politics (3,699)
    • Stocks (1,759)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved